The Greeneville Energy Authority board approved a plan that would allow the company to qualify for the BEAD Program (Broadband Equity, Access, and Development).
The program is a grant opportunity administered by the National Telecommunications and Information Administration (NTIA). According to the Tennessee Department of Economic and Community Development, it helps expand high speed internet access through infrastructure and adoption programs. The program budgeted $793M that will be distributed between counties.
The BEAD grant covers 75% of a project’s expenses and GEA plans to use the grant to cover the Broadband buildout cost for the county, which is estimated to be around $68M ($68,303,600). However, the program requires the Grantee to have a broadband service package available that is less than $60 a month.
The GEA’s Broadband package currently has a rate of $65 per month for their lowest priced plan at 300 megabits per second symmetrical (300 Mbps x 300 Mbps). In simpler words that means the plan has the same download and upload speed. Since GEA’s current package does not meet the BEAD Program’s requirement, plans were recommended to the board during their monthly meeting this morning.
The plan has a new option for $50 per month at 200 Mbps symmetrical, a $65 option at 600 Mbps symmetrical, and two package options remain the same at 1000 Mbps symmetrical for $80, and 2500 Mbps symmetrical for $120. These recommended changes were approved by the GEA board and meet the minimum pricing requirements.
GEA can now move forward with the application process. The grant funds would go toward the broadband building costs for the north area of Greene County and then GEA will apply for an additional grant to cover building costs for the southeastern area. Applications are due by December 20th, 2024.
The BEAD Grant Program connects unserved and underserved locations then eligible community anchor institutions. The Grantee is expected to pay 25% of the project expenses as a required match. A project must be complete within four years of the contract being signed. The contract is anticipated to go into effect by Fall of 2025 but it could be as early as that Summer. Awards will be announced around Spring.
